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1999•Journal of Inner Mongolia Polytechnic UniversityRequires access

DISCUSSION ON TWO PROBLEMS OF PRICE ELASTICITY OF DEMAND

Li Chang

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Abstract

The theory of price elasticity of demand is an imortant theory in economics.In the authors’ view,there are two problems existing in this theory and its application.One is that the identity of values resulted from computation with the two calculating formulas for demand elasticity is conditional.The other is that the relations between demand elasticity and total revenue vary with different conditions.Deep going discussion on these two problems is held in this paper.

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The theory of price elasticity of demand is an imortant theory in economics.In the authors’ view,there are two problems existing in this theory and its application.One is that the identity of values resulted from computation with the two calculating formulas for demand elasticity is conditional.The other is that the relations between demand elasticity and total revenue vary with different conditions.Deep going discussion on these two problems is held in this paper.

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Available abstract

The theory of price elasticity of demand is an imortant theory in economics.In the authors’ view,there are two problems existing in this theory and its application.One is that the identity of values resulted from computation with the two calculating formulas for demand elasticity is conditional.The other is that the relations between demand elasticity and total revenue vary with different conditions.Deep going discussion on these two problems is held in this paper.

Key concepts: Elasticity (physics), Price elasticity of demand, Economics, Mathematical economics, Cross elasticity of demand, Price elasticity of supply, Computation, Revenue

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